Delivered at:: Department of Statistics and Data Analysis

Course type:: Elective course

When:: 2 year, 1, 2 module

Instructors

Vasilyeva, Galina

Хижняк Антон Витальевич

Full Syllabus

Abstract

The course is about the systemic approach to financial markets and macroeconomic statistics analysis. It explores the role of financial intermediaries in the economy, considering different types of financial markets and instruments. The course provides overview of credit statistics, interest rates statistics, including money market interest rates. It considers Securities Statistics, Monetary Statistics and Financial Accounts of the System of National Accounts as the main sources for analyzing the process of saving and investments made by different institutional sectors

Learning Objectives

The aim of the course is to provide an understanding of the interaction between finance and macroeconomics.
The course develops the skills for analyzing financial markets, investment behavior of institutional sectors, and cross-countries’ comparison.
The course sharpens the skills for preparing analytical comments and interactive information panels in R

Expected Learning Outcomes

Understand financial systems functions and governance, difference in the financial markets organizational structure. The SNA institutional Sectors classification.
Understanding Bond Market and Stock Market. Securities Statistics Methodology.
Understanding credit market statistics, securitization process, use of data on mortgage statistics
Understanding Financial Accounts and Financial Balance Sheets Data,. Use FWTW Matrices for Intersectoral Linkages Analysis.
Understanding monetary statistics. Structures of monetary aggregates. Further development of monetary statistics.
Understanding money market, money market interest rates and benchmark administration principles, recent trends in developing interest rates
Understanding the role of Institutional Investors. Insurance statistics and SNA indicators on Insurance companies^ Private Pension Funds and Investment Funds.

Course Contents

Financial Systems. Financial Institutions. Financial Markets. Institutional sectors and Rest of the World.
Money Market. Interest Rates. Monetary policy rates. Interbank rates. Financial Benchmarks Administration.
The Capital Market. The Bond Market. The Stock Market. Securities Statistics. Custodians.
Money and Credit Aggregates. Monetary Statistics Methodology. The IMF Special Data Dissemination Standard. Banking sector Statistics.
The Credit Markets. The Bank Loans Statistics. Mortgage Statistics. Securitization.
Institutional Investors. Insurance companies. Collective Investments.
Financial Accounts and Financial Balance Sheets of the SNA. The 2008 SNA Financial Services Definitions. Financial Sectors Breakdowns. The Output of Financial Intermediaries. Financial Services Indirectly Measured.
Financial Accounts and Financial Balance Sheets Uses. FWTW Matrices. Intersectoral Linkages Analysis.

Assessment Elements

Team Project
Team work on project - data analysis and visualization of financial markets activities using R
Class activity
Class activity
Final Exam
Final Exam - 30 Multiple Choice & 2 Free Response

Interim Assessment

2024/2025 2nd module
0.05 * Class activity + 0.05 * Class activity + 0.6 * Final Exam + 0.15 * Team Project + 0.15 * Team Project

Bibliography

Recommended Core Bibliography

Edwin H. Neave. (2009). Modern Financial Systems : Theory and Applications. Wiley.
Fabozzi, F. J., Modigliani, F., & Jones, F. J. (2014). Foundations of Financial Markets and Institutions: Pearson New International Edition (Vol. Fourth edition Fabozzi, Modigliani, Jones). Harlow, Essex: Pearson. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1418493
Mishkin, F. S. . V. (DE-588)123920108, (DE-627)085524662, (DE-576)162252730, aut. (2019). The economics of money, banking, and financial markets Frederic S. Mishkin. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edswao&AN=edswao.1067357963
Organisation for Economic Co-operation and Development, World Bank, International Monetary Fund, United Nations, & European Commission. (2009). System of National Accounts 2008. INTERNATIONAL MONETARY FUND.

Recommended Additional Bibliography

Allen, F. V. (DE-588)136922465, (DE-627)588339121, (DE-576)167952374, aut. (2001). Comparing financial systems Franklin Allen and Douglas Gale.

Authors

Рычкова Элла Николаевна
CHIKUNAEV OLEG GENNADEVICH
VASILEVA GALINA GENNADIEVNA
KHIZHNYAK ANTON VITALEVICH

Master’s Programme 'Statistical Analysis in Economics'

Financial Accounts and Financial Markets Analysis